BENEFITS ON BOTH SIDES FOR SHORT SALES IN ORANGE COUNTY REAL ESTATE!

BENEFITS ON BOTH SIDES FOR SHORT SALES IN ORANGE COUNTY REAL ESTATE! 

There are new rules regarding short sales meant to improve the experience for both sellers and buyers, but the legalities and legwork can overwhelm even the most savvy.  Of course, that's where the real estate agent shines, handling the paperwork and the phone calls, leaving you to focus on your move.

Keep in mind that if you're expecting to buy a home on short sale, you can get a great deal, but don't expect miracles from a bank that has agreed to accept a price lower than what the sellers owe on their mortgage.  These short sales often generate multiple offers, and if a home has been approved to sell for $200,000, don't expect to waltz in and offer $125,000.

The real advantage of a short sale deal is that the home will likely be in much better physical condition than its foreclosure counterpart.  Often, a foreclosed home will have been abandoned for months, and perhaps trashed before being vacated.  A short sale property in better condition is in and of itself a benefit with real value that offsets any lower price you could offer on a foreclosure.

And for sellers, a short sale preserves your dignity, reduces some of the stress, and won't damage your credit history as much as a foreclosure.  Whether selling or buying, consult an agent for the best results.

Ask about our programs:

 Low as 10% down! Owner will pre-pay your mortgae insurance! Save at least $100 per month!

Down payment assistance available up to $12,510 or 3% of loan amount in the form of a grant, does not have to be repaid.

 Larry Weichman is President and Broker of Costa Mesa-based real estate powerhouse Weichman Realtors,"the most trusted name in Costa Mesa Real Estate". Larry and his highly-trained team of professionals have proudly served Costa Mesa since 1976. For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. Be sure to visit Larry Weichman in Costa Mesa CA for the latest news and information on the Costa Mesa real estate market.  Lic #00573423 

 

      

(714) 241-4532

1525 Mesa Verde Drive East

Costa Mesa, CA   92626-5221

Posted via email from Larry Weichman's Blog (714) 241-4532

IT’S A SMALL WORLD IN COSTA MESA CALIFORNIA REAL ESTATE!

IT’S A SMALL WORLD IN COSTA MESA CALIFORNIA REAL ESTATE!

If you're anticipating selling your smaller-than-average home, do not despair, because the days of the overly sized and overly priced McMansions are shrinking in the rearview mirror!  Buyers these days are looking for ways to save money on utilities and taxes, as well as save time on yard work and maintenance. 

Your smaller property offers benefits to first-time buyers and those with an eye towards conservation.  Be sure to highlight your lower utility costs, and if your home sits on a small lot, research property taxes on larger lots in the neighborhood and show how much money buyers can save with yours. 

People who are downsizing or buying for the first time want easy maintenance, so you should absolutely list any new appliances or systems you've installed, like heating and/or air, and Energy Star refrigerators, water heaters, and the like.  First time buyers are usually accustomed to the landlord fixing any problems, so new appliances still under warranty are very attractive to that segment. 

Buyers who are downsizing will be rethinking their space, so make sure you make your rooms look larger and show off your storage space.  Cut the clutter, remove some furniture, and let in the light! 

If you live within walking distance to shopping and activities, have your agent promote that, and emphasize that location and function offset your home's smaller size.

Larry Weichman is President and Broker of Costa Mesa-based real estate powerhouse Weichman Realtors,"the most trusted name in Costa Mesa Real Estate". Larry and his highly-trained team of professionals have proudly served Costa Mesa since 1976. For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. Be sure to visit Larry Weichman in Costa Mesa CA for the latest news and information on the Costa Mesa real estate market.  Lic #00573423 

Posted via email from Larry Weichman's Blog (714) 241-4532

How bad is the distressed home rate in your city?

City	Listings	Foreclosures & short sales	% distressed
Aliso Viejo	274	144	52.6%
Anaheim	623	384	61.6%
Anaheim Hills	194	73	37.6%
Brea	114	49	43.0%
Buena Park	175	99	56.6%
Corona Del Mar	170	11	6.5%
Costa Mesa	226	77	34.1%
Coto De Caza	132	32	24.2%
Cypress	138	58	42.0%
Dana Point	281	68	24.2%
Dove Canyon	19	6	31.6%
Foothill Ranch	51	27	52.9%
Fountain Valley	127	45	35.4%
Fullerton	435	187	43.0%
Garden Grove	335	164	49.0%
Huntington Beach	696	226	32.5%
Irvine	798	232	29.1%
La Habra	195	100	51.3%
Ladera Ranch	174	104	59.8%
Laguna Beach	329	29	8.8%
Laguna Hills	159	67	42.1%
Laguna Niguel	370	145	39.2%
Laguna Woods	360	32	8.9%
Lake Forest	192	112	58.3%
Mission Viejo	390	171	43.8%
Newport Beach	532	70	13.2%
Newport Coast	136	12	8.8%
Orange	444	172	38.7%
Placentia	150	71	47.3%
Portola Hills	21	13	61.9%
Rancho Santa Marg.	245	156	63.7%
San Clemente	414	108	26.1%
San Juan	177	50	28.2%
Santa Ana	552	317	57.4%
Seal Beach	291	11	3.8%
Talega	88	28	31.8%
Tustin	315	116	36.8%
Villa Park	42	5	11.9%
Westminster	163	79	48.5%
Yorba Linda	359	107	29.8%
All of O.C.	11,151	4,064	36.4%

posted by Marilyn Kalfus, real estate reporter from the OC Register

This was just posted by the Register, very interesting for some cities!

More than 36% of homes offered for sale in Orange County as of Nov. 11 were foreclosures or short sales, according to a bi-weekly analysis of the local real estate market by broker Steve Thomas of Altera Real Estate.

Larry Weichman is President and Broker of Costa Mesa-based real estate powerhouse Weichman Realtors,"the most trusted name in Costa Mesa Real Estate". Larry and his highly-trained team of professionals have proudly served Costa Mesa since 1976. For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. Be sure to visit Larry Weichman in Costa Mesa CA for the latest news and information on the Costa Mesa real estate market.  Lic #00573423 

 

 

Posted via email from Larry Weichman's Blog (714) 241-4532